Bonanza Creek Energy (NYSE:BCEI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Bonanza Creek Energy, Inc. is engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The Company’s core operating areas are the DJ Basin in Colorado and the Cotton Valley formation in southern Arkansas. Bonanza Creek Energy, Inc. is based in Denver, Colorado. “

A number of other research analysts have also recently weighed in on the stock. Imperial Capital reiterated an “outperform” rating and set a $30.00 price objective (up previously from $28.00) on shares of Bonanza Creek Energy in a research report on Wednesday, July 24th. SunTrust Banks set a $24.00 price objective on shares of Bonanza Creek Energy and gave the company a “hold” rating in a research report on Friday, August 9th. KeyCorp initiated coverage on shares of Bonanza Creek Energy in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $26.00 price objective on the stock. Finally, Capital One Financial upgraded shares of Bonanza Creek Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $26.75.

Bonanza Creek Energy stock traded down $0.40 during mid-day trading on Tuesday, reaching $25.60. 324,875 shares of the company’s stock traded hands, compared to its average volume of 205,388. The stock has a 50 day moving average of $22.32 and a two-hundred day moving average of $21.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.05 and a quick ratio of 1.02. Bonanza Creek Energy has a 12-month low of $17.64 and a 12-month high of $31.01.

In other Bonanza Creek Energy news, CAO Sandra Garbiso sold 2,813 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $21.99, for a total transaction of $61,857.87. Following the transaction, the chief accounting officer now owns 11,060 shares in the company, valued at $243,209.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BCEI. Dimensional Fund Advisors LP grew its holdings in shares of Bonanza Creek Energy by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,476,187 shares of the oil and gas producer’s stock worth $30,513,000 after purchasing an additional 159,783 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Bonanza Creek Energy by 48,962.5% in the first quarter. BNP Paribas Arbitrage SA now owns 3,925 shares of the oil and gas producer’s stock worth $89,000 after purchasing an additional 3,917 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bonanza Creek Energy by 136.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,239 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 715 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Bonanza Creek Energy in the first quarter worth about $205,000. Finally, Rhumbline Advisers grew its holdings in shares of Bonanza Creek Energy by 1.4% in the first quarter. Rhumbline Advisers now owns 55,463 shares of the oil and gas producer’s stock worth $1,258,000 after purchasing an additional 792 shares during the last quarter.

About Bonanza Creek Energy

Bonanza Creek Energy, Inc, an exploration and production company, focuses on the extraction of onshore oil and related liquids-rich natural gas in the United States. The company's primary oil and liquids-weighted assets are located in the Wattenberg Field in Colorado. As of December 31, 2018, it had proved reserves of 116.8 million barrel of oil equivalent.

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